Super Micro Computer (NASDAQ:SMCI) stock is on the move Tuesday after the server and storage solutions company announced a new smart city development deal.
Super Micro Computer is teaming up with SiMa.ai and CVEDIA on a smart city solutions platform. This will make use of Super Micro’s edge appliances, SiMa.ai’s “Machine Learning System on Chip” system and CVEDIA’s artificial intelligence (AI) video analytics solutions.
The combination of this technology will allow customers to better monitor their cities. That includes improved object detection, anomaly detection, vehicle classification and line crossing.
Elizabeth Samara-Rubio, Chief Business Officer of SiMa.ai, said the following about the collaboration:
“SiMa.ai’s mission is to help customers deploy high-performance AI/ML applications at the edge with a high bar for energy-efficiency and ease of use with partners […] We are pleased to introduce real-time AI/ML partner solution integrations such as CVEDIA’s library of reliable, affordable AI-based video analytics solutions to the market that will help customers scale their AI/ML edge development challenges effortlessly with one platform.”
SMCI Stock Movement Today
Despite news of the smart city collaboration effort, shares of SMCI stock are down 4.3% as of Tuesday morning. However, its shares are still up 211.3% since the start of the year.
It seems today’s news hasn’t inspired much interest from investors. As of this writing, only about 2.2 million shares have changed hands. For the record, the company’s daily average is about 11.1 million shares.
There are plenty more stock market stories traders need to know about below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
